Global Utility Asset Management Market is valued approximately at USD 3.00 billion in 2018 and is anticipated to grow with a healthy growth rate of more than 8.25% over the forecast period 2019-2026. Asset Management is a concept that has been used in both public and private sectors with a vast number of interpretations. Also, utility asset management can be defined as a systematic approach to maintaining and upgrading electric assets such as transformer, power distribution panels, light fixtures by combining engineering practices and economic analysis with sound business practice. Moreover, growing investment in distributed generation and related government regulation and upgradation of aging infrastructure are some major factors driving the growth of the market. For Instance: as per the company sources, FirstEnergy Corporation will incorporate around $4.7 billion between 2018-2021 to institute smart grid technologies and to upgrade aging infrastructure and will build new lines. As a result, the demand and adoption of Utility Asset Management solutions would increase. However, capital intensive nature of sensor technology is beholding the confidence of users towards purchase of Utility Asset Management globally.
The regional analysis of global Utility Asset Management Market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the smart grid investment and aging T&D infrastructure. Whereas, Asia-Pacific is anticipated to emerge as the fastest growing market region during the forecast period 2019- 2026. Factors such as rising renewable power generation capacity, rapid urbanization and industrialization would create lucrative growth aspects for the market during the forecast period of 2019-2026.
Major market player included in this report are:
General Electric Company
S&C Electric Company
Sentient Energy, Inc.
Aclara Technologies LLC
Emerson Electric Co.
Lindsey Manufacturing Co.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Transmission & Distribution Lines
By Utility Type:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2016-,2017
Base year – 2018
Forecast period – 2019 to 2026
Target Audience of the Global Utility Asset Management Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers